Stephanie R. Leniski Sells 2,560 Shares of Lakeland Financial Co. (NASDAQ:LKFN) Stock

Lakeland Financial Co. (NASDAQ:LKFNGet Free Report) SVP Stephanie R. Leniski sold 2,560 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $63.17, for a total transaction of $161,715.20. Following the sale, the senior vice president now owns 4,270 shares of the company’s stock, valued at approximately $269,735.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Lakeland Financial Stock Performance

Shares of Lakeland Financial stock opened at $66.06 on Friday. The firm’s fifty day simple moving average is $64.51 and its 200-day simple moving average is $56.15. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 18.10 and a beta of 0.70. Lakeland Financial Co. has a 12 month low of $43.05 and a 12 month high of $73.22. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.88 and a quick ratio of 0.88.

Lakeland Financial (NASDAQ:LKFNGet Free Report) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. The business had revenue of $65.81 million for the quarter, compared to analysts’ expectations of $59.81 million. Lakeland Financial had a net margin of 23.85% and a return on equity of 14.89%. During the same period in the previous year, the company posted $1.01 EPS. As a group, equities analysts forecast that Lakeland Financial Co. will post 3.49 earnings per share for the current year.

Lakeland Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Thursday, January 25th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from Lakeland Financial’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, January 24th. Lakeland Financial’s payout ratio is presently 52.60%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Lakeland Financial to a “sell” rating in a research report on Thursday, October 26th. Stephens boosted their price objective on shares of Lakeland Financial from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Raymond James boosted their price objective on shares of Lakeland Financial from $60.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, TheStreet upgraded shares of Lakeland Financial from a “c+” rating to a “b-” rating in a research report on Monday, December 4th.

Check Out Our Latest Stock Report on LKFN

Hedge Funds Weigh In On Lakeland Financial

Several institutional investors have recently bought and sold shares of LKFN. JPMorgan Chase & Co. increased its stake in Lakeland Financial by 13.6% in the 1st quarter. JPMorgan Chase & Co. now owns 26,618 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 3,183 shares during the period. Raymond James & Associates increased its stake in Lakeland Financial by 6.2% in the 1st quarter. Raymond James & Associates now owns 3,075 shares of the financial services provider’s stock valued at $224,000 after buying an additional 179 shares during the period. Citigroup Inc. increased its stake in Lakeland Financial by 22.1% in the 1st quarter. Citigroup Inc. now owns 24,033 shares of the financial services provider’s stock valued at $1,755,000 after buying an additional 4,357 shares during the period. MetLife Investment Management LLC increased its stake in Lakeland Financial by 56.0% in the 1st quarter. MetLife Investment Management LLC now owns 13,025 shares of the financial services provider’s stock valued at $951,000 after buying an additional 4,675 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Lakeland Financial by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,812 shares of the financial services provider’s stock valued at $1,592,000 after buying an additional 2,691 shares during the period. 80.70% of the stock is owned by institutional investors and hedge funds.

Lakeland Financial Company Profile

(Get Free Report)

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.

Further Reading

Insider Buying and Selling by Quarter for Lakeland Financial (NASDAQ:LKFN)

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